ENER Trump admin must run $100 MILLION in repairs because of when the Biden admin DRAINED the Strategic Petroleum Reserve to help Democrats in the midterms

auxman

auxman

Deus vult...
BREAKING: THIS IS INFURATING. It just came out that the Trump admin must run $100 MILLION in repairs because of when the Biden admin DRAINED the Strategic Petroleum Reserve to help Democrats in the midterms.

They got very short-term gas prices a little lower... and damaged the facilities by draining it so fast. WHAT ON EARTH??

Energy Sec. Chris Wright: "In 2022, coming into those midterm elections, the Democrats saw inflation was a problem. Things weren't going well from them. And they drained nearly half of the Strategic Petroleum Reserve to make those midterm elections go well for them."

"Sadly, it did help them. In the short term, they flooded the market with oil, reduced the price of oil in the short term, but at the cost of US strategic positioning."

"And they damaged the facilities in the Strategic Petroleum Reserve by draining them so fast. So I have a few challenges. We have to spend over $100 million to repair the damage. The Strategic Petroleum Reserve that wasn't built for that. And by design, it's much slower to fill it than to drain it."


RT 1:08
https://twitter.com/i/web/status/1920873568126079349
View: https://twitter.com/EricLDaugh/status/1920873568126079349?t=b6ld8somMWDbj8vd5du5KQ&s=19
 
Blacknarwhal

Blacknarwhal

Three-Time Trump Voter
mbabulldog said:
So if we truly DID need those reserves in a post-haste manner, we would have damaged the system?
Sounds like it was flawed from the beginning.
Click to expand...

The idea, I believe, is that the reserve would be substantial enough that we wouldn't have to rapidly drain it to the dregs to meet even valid emergencies. Biden ran the tank at minimum, and then all but emptied it.
 
Kris Gandillon

Kris Gandillon

The Other Curmudgeon
_______________
Publius said:
They sold that oil and I like to know where the money went.
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The Department of Energy (DOE) “owns” the SPR. They pay to buy the oil that goes into the SPR and the proceeds from sales out of the SPR come back to the DOE.

Sometimes “like kind exchanges” and “loans” (to oil companies for special needs) are made where oil itself is the medium of exchange rather than dollars.
 
P

Publius

On TB every waking moment
Kris Gandillon said:
The Department of Energy (DOE) “owns” the SPR. They pay to buy the oil that goes into the SPR and the proceeds from sales out of the SPR come back to the DOE.

Sometimes “like kind exchanges” and “loans” (to oil companies for special needs) are made where oil itself is the medium of exchange rather than dollars.
Click to expand...
So the money from the oil sales went to the DOE and from there they must have sent it to the USAID.
 
Illini Warrior

Illini Warrior

Illini Warrior
nothing new - Obammy did the very same thing - didn't care a hoot that he thought he was sticking Ole' Hellery with empty cupboards across the GOV >>>

Trump 1.0 had to refill the reserve slowly back then also - just like you can't dump the reserve on the open market like Biden's goof did - you can't buy up a huge excessive amount on the market .....

needs to be Congress action against the Prez using the reserve for political gain - stop ANY future Prez from this kind of back & forth damage to a strategic defense element ......
 
W

Walrus

Veteran Member
Publius said:
They sold that oil and I like to know where the money went.
Click to expand...
Ukraine's and the Biden crime family's coffers, undoubtedly.

Not that they're anything but peripherally associated with the above: Did you notice recently that Zippy bought his mama a $3.2 million mansion in Dubai's Burj Khalifa? (Tallest tower and all that)

ETA: IIRC, there's a two-floor lounge and restaurant on the 150-something-ish floor. Great views of the lakes below! Seemed like you could see forever.

The Lounge Burj Khalifa | Activities | Create your Dubai holiday | Emirates United States
 
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W

Walrus

Veteran Member
Illini Warrior said:
nothing new - Obammy did the very same thing - didn't care a hoot that he thought he was sticking Ole' Hellery with empty cupboards across the GOV >>>

Trump 1.0 had to refill the reserve slowly back then also - just like you can't dump the reserve on the open market like Biden's goof did - you can't buy up a huge excessive amount on the market .....

needs to be Congress action against the Prez using the reserve for political gain - stop ANY future Prez from this kind of back & forth damage to a strategic defense element ......
Click to expand...
I don't really understand how there could be $100 million damage, but then again there's got to be aspects of the SPR I don't know.

For instance, if it was drained so rapidly that there wasn't enough reservoir pressure to maintain the integrity of the salt domes, they might've collapsed. I don't see how they could be repaired unless it was some kind of underground mining related to horizontal drilling, but that seems far-fetched to me.

It's also possible that there was a lot of deferred maintenance on what surely was an overloaded surface system for decades, particularly with reversing flows. I can easily see where there'd be a high repair bill if pipeline and casing surveys showed a lot of corrosion and wear.

All I can offer, though, is pretty much (un)educated guesses. Maybe there'll be something about it in the oilfield journals.
 
W

Walrus

Veteran Member
Big Sarge said:
Didn’t see any specific details on the repairs but maybe the cost of REFILLING the SPR is included.
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Well now, that's surely a possibility. I don't have the figures on the capacities of the various SPRs, but I would imagine that no one is giving big discounts to Uncle Sam. Figure around $55-$60 a barrel nowadays, I reckon.

As much as I depended on the oil field for a living, I like it as much as anyone when gasoline prices are low. I noticed today in Springfield that the lowest prices were $2.39/gallon for regular unleaded.
 
Ractivist

Ractivist

Pride comes before the fall.....Pride month ended.
The strategic reserves should be strictly withheld for national emergency uses. I'm somewhat shocked we are just now hearing about this. I know it's not the end all of oil reserves, but it is a given quantity that should alway's be available.

We need to top everything off, as that goes....on all levels.

Everytime they sold it off, it left a really bad taste in my mouth, so to speak.
 
kyrsyan

kyrsyan

Has No Life - Lives on TB
Ractivist said:
The strategic reserves should be strictly withheld for national emergency uses. I'm somewhat shocked we are just now hearing about this. I know it's not the end all of oil reserves, but it is a given quantity that should alway's be available.

We need to top everything off, as that goes....on all levels.

Everytime they sold it off, it left a really bad taste in my mouth, so to speak.
Click to expand...
We're not just hearing about this. At least not on TB2K. This has come up several times in the past few years.

I'm not surprised at all the Feds gov and MSM hid it.
 
Weps

Weps

Veteran Member
mbabulldog said:
So if we truly DID need those reserves in a post-haste manner, we would have damaged the system?
Sounds like it was flawed from the beginning.
Click to expand...

That's not the purpose or function of the SPR; it was set up after the 73' gas crisis to help compensation for crude supply disruptions to the US market brought on by national emergencies or global incidents, it's just a speed bump to help lessen impact on the US domestic market; it takes 13 days for crude from the SPR to start flowing into the market after the POTUS gives to go ahead.

Now we did have the Northeast Gasoline Supply Reserve (1M barrels of refined petroleum) that was apart of the SPR, but DoE sold it under Congressional order.
 
Weps

Weps

Veteran Member
Ractivist said:
The strategic reserves should be strictly withheld for national emergency uses. I'm somewhat shocked we are just now hearing about this. I know it's not the end all of oil reserves, but it is a given quantity that should alway's be available.

We need to top everything off, as that goes....on all levels.

Everytime they sold it off, it left a really bad taste in my mouth, so to speak.
Click to expand...

The provisions in the EPCA that authorize the POTUS to approve drawndowns on the SPR is rather cut and dry, but as we all are aware the Biden Admin was a free for all and no one was checking ID's at the door...
 
Ractivist

Ractivist

Pride comes before the fall.....Pride month ended.
kyrsyan said:
We're not just hearing about this. At least not on TB2K. This has come up several times in the past few years.

I'm not surprised at all the Feds gov and MSM hid it.
Click to expand...
I'm speaking of the fact it's taken this long since Trump got in to address the deficiency, let alone the damages done. It should be and is a high priority to get topped off, in times of war, like we are in right now.
 
kyrsyan

kyrsyan

Has No Life - Lives on TB
In the realm of importance, it is important. And it was published a month ago. So really not bad.

It took roughly 3.5 months to be looked at, determine the damage, and start addressing it.

Given the bureaucracy resistance to everything, that's pretty fast.
 
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